The Pen Fed Platinum Cash rewards has been devalued.
For example the $250 visa gift card used it cost 25,000 points, thus one point = one penny in gift card value. Now it went up to 29,500 points for the same card. Thus about 18 % more points for the same value gift card.

To make matter worse , they have a devaluation of the points that you are rewarded for gasoline & groceries. Until DEC 31 of this year you will get 5 points for pay at the pump gasoline purchases and 3% for grocery purchases.
Now starting the first of the New Year you will get only 3 points for gas and two for groceries.
This is a double whammy. It sucks. Check out their web site.
When points become worth LESS than a penny a point in reward value people lose interest in collecting them. ie Sky Pesos.